Vikings, Anoka County announce $675M stadium deal

The Minnesota Vikings and Anoka County on Tuesday announced they have reached an agreement for a new $675 million stadium in Blaine.

The 68,000-seat, retractable-roof stadium will anchor a larger project that would include a mix of retail shops, office buildings, housing and nature preserves.

Under the deal, Vikings owner Zygi Wilf would pay $280 million of the stadium costs, Anoka County would provide another $280 million through a 0.75 percent countywide sales tax. The parties would also ask the state to contribute $115 million in general obligation bonds to cover on-site infrastructure costs and a portion of the retractable roof. The plan suggests that the state should use tax revenue generated by the stadium project to pay off the bonds.

The team will also ask the state to accelerate $115 million in planned off-site road improvements, such as widening I-35W and improving access to the freeway, which could also be paid for with tax revenue generated by the stadium.

The stadium complex, which would be publicly owned by a stadium authority to be established by the state Legislature, is projected to open in 2009 or 2010, depending on legislative approval. The Vikings' current Metrodome lease expires in 2011.

The Vikings would sign a 30-year lease for the new stadium, with a no-escape clause, the team said. The team would also have the option to extend the lease for two 10-year periods beyond the initial term.

The Vikings will receive all revenue generated by the stadium and will make an annual payment to the county. Details of that payment will be negotiated as part of the lease agreement, the county said.

"This partnership is one of the most significant development projects in state history, and it will bring unparalleled economic opportunity to Anoka County, while taking the legacy of Vikings football to a new level," Anoka County Board Chairwoman Margaret Langfeld said in a statement.

Gov. Tim Pawlenty's press secretary, Brian McClung, said Monday: "We appreciate and value the Vikings are open to finding a reasonable way to ensure their long-term presence in Minnesota."

But McClung added that Pawlenty's top priority right now is providing relief to the victims of Hurricane Katrina and examining Minnesota's own emergency preparedness.

"The governor will be communicating with legislative leaders regarding stadiums and other issues shortly," McClung said. "We will evaluate the Vikings proposal in that context."